MF industry asset base up marginally in March qtr; SBI MF largest fund house

Mutual funds' asset base rose marginally to over Rs 27 lakh crore in the January-March quarter, with SBI MF emerging as the largest fund house.

The average asset under management (AAUM) of the industry, comprising 44 players, stood at Rs 26.77 lakh crore in the October-December quarter 2019, according to data by the Association of Mutual Funds in India (Amfi).

The asset base of the industry was Rs 24.5 lakh crore in the same period a year ago.

The marginal growth of one per cent on quarter-on quarter basis comes amid high volatility in equity markets.

Among the top five fund houses, SBI MF and Nippon India MF have witnessed gain in their asset base, while the other three
Commenting on the performance, Ashwani Bhatia MD and CEO, SBI MF said, "Over the years, we have built robust internal systems and processes, we have the largest investment team in the industry and believe in bottom-up investing."